Keyes Richard Patrick 4

What Happened
Richard Patrick Keyes, a director of CMS Energy Corporation (CMS), was granted 2,411 restricted shares on 2026-05-08. The grant is reported at $0.00 per share (total reported value $0) because these are restricted stock awards rather than an open-market purchase.

Key Details

• Transaction date: 2026-05-08 (Form 4 filed 2026-05-11).
• Transaction type: Award/Grant of restricted stock (Code A).
• Shares granted: 2,411; reported acquisition price $0.00 (total $0).
• Vesting/condition: Footnote F1 — the shares are subject to vesting at the next annual meeting.
• Shares owned after transaction: Not specified in the provided extract of the filing.
• Filing timeliness: Filing shows the report date 2026-05-11 for the 2026-05-08 transaction (a few days later); the filing itself does not include an exception note in the provided data.

Context
Restricted stock grants are a form of compensation and are not the same as an open-market purchase or sale; they typically reflect board or executive compensation and vest over time. Because this is an award (not a sale), it should be viewed as routine compensation rather than a direct market signal.